We aim to support the Lebanese population through sustained remittances on a family-to-family basis.
Aleb is an initiative incubated by LebNet
LebNet is a 501c3 nonprofit organization in North America dedicated to enable Tech Entrepreneurs and Professionals of Lebanese descent to succeed on a global stage through education and knowledge sharing, with a focus on Women's role in tech leadership. Visit LebNet here.
The Lebanese Association for Development – Al Majmoua is the leading microfinance and business development institution operating in all regions of Lebanon. Al Majmoua was established in 1994 by Save the Children–USA as a program with a mandate to provide sustainable financial services to low-income women micro-entrepreneurs in urban and rural areas of Lebanon. In 1998, the program spun off from Save the Children to become an independent, not for profit, Lebanese NGO.
Al Majmoua's core business is to provide microcredit to any individual with limited or no access to formal lending channels without any political, religious, gender, nationality discrimination, provided he/she is a legal resident of Lebanon. To ensure a stable and regular source of income for their families, micro-entrepreneurs are keen to invest in and develop sustainable businesses. With limited assets and no guarantees they find difficulties accessing commercial banks services. They turn to Al Majmoua, a reliable partner whose goal is to render access to financial services a right and not a luxury.
Al Majmoua's partners are USAID, IFC, EIB, Triple Jump, Triodos Bank, Responsibility, Symbiotics, FMO and many other development agencies. As of September 2019, AM had a $100M under active portfolio. Their 400 employees canvas Lebanese territory to select and vet 90,000 recipients of micro loans.
Al Majmoua selects and vets Aleb's recipients according to criteria of need. All recipients are treated equally regardless of geography, citizenship, community or sect.
Al Majmoua helps onboard recipients on Aleb's platform, manages the distribution of cash, and follows up with recipients over time.
In the future, recipients may graduate into a micro loan at the end of the six-months period of support.
Dec 2020: Al Majmoua received the 2020 Award for Conflict Prevention and Peace in Lebanon from the Fondation de France and Fondation Ghazal.
Visit Al Majmoua here.